The bipartisan leaders of the Senate Commerce Committee are making changes to their big college sports overhaul in a bid to garner support from the nation’s two most powerful athletic conferences as they look to build Republican support ahead of a potential vote on the Senate floor.

Chair Ted Cruz (R-Texas) and Sen. Maria Cantwell (D-Wash.), the ranking member, made several concessions to the Big Ten and Southeastern Conferences in the latest draft of their Protect College Sports Act. They include protections against certain legal challenges and a new $20 million pool of funds that schools can use for retaining athletes, according to three people close to the negotiations...

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